TMI Blog1975 (7) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... maintained accounts on Dewali year basis. Below are the particulars of returned income and finally assessed income of the assessee for the years in question. Returned income Assessed income Rs. Rs. 1962-63 48,153 1,81,113 1963-64 47,901 1,05,654 1964-65 12,188 43,125 In computing the income, the Income-tax Officer added cash credits of Rs. 84,000 and Rs. 20,000 in the assessment years 1962-63 and 1963-64, respectively. Corresponding disallowance of interest to the tune of Rs. 16,000 was added in the assessment year 1964-65. The Inspecting Assistant Commissioner took note of the fact that the assessee had informed the Income-tax Officer, to the following effect : The parties who had given us the loan are not now willing to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue to justify the finding that the impugned amount was the concealed income of the assessee. It is one thing to make additions in the assessment for lack of evidence but to give a finding that the additions so made in the assessment were the concealed income is quite another. As the department has failed to prove the guilt of the assessee, we do not find any merit in the imposition of the penalty in the years under appeal ........" The Tribunal relied upon the decision of the Supreme Court in the case of Commissioner of Income-tax v. Anwar Ali [1970] 76 ITR 696 (SC). Section 271(1)(c) of the Act so far as relevant provides : " (1) If the Income-tax Officer or the Appellate Assistant Commissioner in the course of any proceedings und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellate Tribunal clearly went wrong in proceeding to deal with the case by placing the burden on the revenue, and its conclusion, therefore, has been totally vitiated. It overlooked the provisions in the Explanation referred to above. Mr. Mohanty for the assessee contended that the notices in these years issued by the Inspecting Assistant Commissioner were misleading and, therefore, the assessee proceeded to lead no evidence. We are not in a position to say one way or the other with reference to such a submission because the notices are not before us and such a case has not been canvassed before the Appellate Tribunal. If the assessee rests on a contention of this type before the Appellate Tribunal after the matter goes before it, it is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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